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Why Nikola Stock Jumped Higher Today

TheMotleyFool

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Nikola (NASDAQ: NKLA) announced its first commercial shipments last month, and more related news today had the stock of the zero-emissions truck maker soaring by double digits early Wednesday. After popping as much as 11.5% this morning, as of 10:56 a.m. ET, Nikola shares are trading 6.3% higher.

Two items of note have investors pushing up shares in Nikola today. The company announced a new letter of intent from truckload hauler USA Truck to purchase 10 of Nikola's Tre battery electric vehicles (BEVs). Also, the company has dropped its $2 billion patent infringement lawsuit against Tesla, according to a Bloomberg report.

Source Fool.com

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